US Dollar moves sideways on lack of data

The US dollar struggled again at the start of this week, with physical data and support hard to come by. As a result, speculation over possible interest rate rises continued to lean towards the negative, with investors’ expectations on timescales being pushed out. The only events of note were words from members of the Federal Open Market Committee (FOMC), which added to the caution. Dallas member Richard Fisher continued to appear optimistic, but caveated this by wishing to remain sensible. This meant that hopes of interest rates being raised sooner rather than later were calmed, causing the dollar to drop against higher-yielding partners such as the Australian and New Zealand dollars, as well as against the euro and sterling.

Today is another quiet day in terms of data releases. The figures of note come later this afternoon, in the shape of existing home sales. With this in mind, the dollar may struggle to find any cause for support, so continued negative speculation could continue to govern its movements in currency markets.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

US data supportive of the dollar

The US dollar had a mixed day yesterday, seeing little change from its opening levels against a large part of the market. There was little economic data from stateside to influence the currency’s fortunes, and as a result investors struggled for encouragement – as they had last week – regarding possible interest rate rises. The only release of note was the mildly influential job openings figure, which followed the positive trend of last week’s labour data by coming out ahead of expectations.

While overnight saw investors look to two Federal Open Market Committee (FOMC) members’ words for any clues, today’s focus remains on them for the same reason.

US Dollar has a “quiet” start to the week

Yesterday was a quietly disappointing one for the US currency, as economic data was scarce. With no data to talk of from stateside, the currency fell, thanks to uncertainty over timescales for interest rate rises. While Friday’s headline unemployment figures had strengthened the dollar considerably, some other figures revealed the uneven nature of the labour market. As a result, the debate against imminent rises gained some support, causing the dollar to weaken against the majority of its major peers.

Today will see some increased activity in terms of data releases, in the shape of the job openings figure. Following on from this, two members of the Federal Open Market Committee (FOMC) are due to speak.

Lots of data this week which could sway the US Dollar

With a strong start to the month behind it, the US dollar stalled on Friday due to conflicting data from the states. After trading within a wide margin against the euro throughout the week, the US dollar weakened significantly on Friday as consumer sentiment data came out worse than expected.

The first major release during the week ahead comes tomorrow, with core inflation released in the afternoon. The next major release comes in the shape of the Federal Open Market Committee (FOMC) meeting minutes on Wednesday. This will provide an in-depth insight into FOMC members’ view of the US economy, and could drive further US dollar strength.

Lots of data this week which could sway the US Dollar

With a strong start to the month behind it, the US dollar stalled on Friday due to conflicting data from the states. After trading within a wide margin against the euro throughout the week, the US dollar weakened significantly on Friday as consumer sentiment data came out worse than expected.

The first major release during the week ahead comes tomorrow, with core inflation released in the afternoon. The next major release comes in the shape of the Federal Open Market Committee (FOMC) meeting minutes on Wednesday. This will provide an in-depth insight into FOMC members’ view of the US economy, and could drive further US dollar strength.